One year from now, the federal government will stop issuing paper checks for Social Security benefits including Supplemental Security Income, or SSI.
The U.S. Treasurer said Thursday that the clock is now ticking for those who continue to receive a monthly check in the mail. By March 1, 2013, all beneficiaries — including those with disabilities — will be required to get their payments electronically through direct deposit or on a debit card.
The transition to electronic-only payments has been in the works for some time. Since May 2011, all new benefits recipients have been required to choose either direct deposit or debit card payments.
Already, 90 percent of federal beneficiaries use electronic payment methods, officials said. However, the government continues to issue about 7 million paper checks monthly.
“The switch to electronic payments is a win-win for federal benefit recipients and for taxpayers,” said U.S. Treasurer Rosie Rios. “It provides a safer, more secure, more convenient way for Americans to access their federal benefits, while also improving government efficiency and delivering more than $1 billion in savings.”
Social Security beneficiaries can make the switch to electronic payments online or by calling 800-333-1795.
The last thing we need is some government bureaucrat deciding how we should be paid our benefits. Electronic payments are only a win for those who want to be paid that way. For the rest of us, it’s an absolute nightmare. Let’s hope everyone now getting a paper check insists on continuing to be paid that way. A class-action lawsuit looks awfully good a year from now.
It is not a “win-win.” It is only a win for those who want for direct deposit. For those of us who don’t, it’s another intrusion by the government into our ability to control our own lives and to live them in the way that is reasonable to us. Some of us don’t wish to give others the power to control where and when money goes into our accounts; we want to retain that power ourselves!
it is nuts that some people are even mad at this you can use your bank or have it put it on a credit card unless your buying drugs on the street which doesnt take a debitcard this is a win win thing no one can steal your ckeck out of the mail box and you dont have to drive to the bank , the mail is slowing stopping , who knows if we will even have mail in a few years , then what , being able to use this for my handicap son was awesome it helps keep track of his spending needs and now i am teaching him to use the debit card which is a great skill to have !!!!
I recently made the switch to direct deposit and find it very convenient. Having the ability to add cash from one account to the other as it’s needed makes me feel much safer. But I do sympathize with those who are against forced banking methods. These measures may cause stress for older and/or less tech savvy individuals. What happens a cash transaction is required? My grandmother always keeps some cash around to pay people for running errands or grocery shopping for her since she can’t get out. Having all of her funds deposited would require trips to an atm, which she has never used or handing over her debit card to an aid, pca or nurse when she needs something.